43Annual budget and expenditure

43 Annual budget and expenditure (1) In each financial year, the Council must: (a) adopt a budget for the funds of the Institute, except those to which paragraphs (d) and (e) relate, for the next financial year; and (b) approve any amendments to the budget for the current financial year; and (c) control the expenditure of the Institute during the current financial year so that it conforms as nearly as possible to the budget (as amended) for the financial year; and (d) review the funds available to the Institute by way of bequest, donation or special grant and the expenditure of those funds; and (e) subject to the terms of a trust and before any expenditure is made, approve the proposed disposition of the funds mentioned in paragraph (d). (2) As soon as reasonably possible after adopting or amending a budget under subsection (1)(a) or (b), the Council must forward a copy of the budget or amendment to the Treasurer.